Yuan Central Parity Rate Weakens 124 Basis Points Against Dollar

Yuan Central Parity Rate Weakens 124 Basis Points Against Dollar

Liao Shumin

Date: Mon, 10/09/2017 - 10:26 / Keywords: Yuan Parity Rate
Yuan Central Parity Rate Weakens 124 Basis Points Against Dollar
Yuan Central Parity Rate Weakens 124 Basis Points Against Dollar

(Yicai Global) Oct. 09 -- The central parity rate of the yuan against  the US dollar  weakened 124 basis points before the opening of the interbank market on Oct. 09, hitting a new low since August 25th.

The China Foreign Exchange Trade System (CFETS), the interbank trading and foreign exchange division of China’s central bank, the People’s Bank of China (PBOC), set the yuan central parity rate at 6.6493 against the dollar, compared with the official close of 6.6470 on Sept. 29.

During the National Day holiday, the offshore spot exchange rate of the yuan against the dollar has fluctuated slightly, quoted between 6.63 to 6.69, while the onshore yuan market closed. On the first trading day after the national holidays, the onshore and offshore spot exchange rate of the yuan against the dollar opened at 6.6532 and 6.6504 respectively.
 

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Keywords: Yuan Parity Rate